Greece, consumer spending in spotlight

MONDAY MORNING’S TOP STORIES

Premarket movers

U.S. stock index futures held modest gains Monday as investors eyed a key Greek parliamentary vote on austerity measures later this week and digested a flat reading on U.S. consumer spending and a 0.3% increase in personal incomes for May. Read Indications.

Global markets

European equity markets edged higher Monday as investors awaited the Greek parliamentary vote later this week, while shares of paints producer Akzo Nobel dropped after a profit warning. Passage of the austerity measures is seen as necessary to secure an upcoming tranche of aid for Grece and to securing additional bailout funds. Read Europe Markets.

Most Asian markets fell Monday as investors took a cautious approach ahead of the Greek vote, while weaker oil prices put pressure on energy stocks and concerns about tighter regulations weighed on banks. Read Asia Markets.

Breaking news

U.S. consumer spending was flat in May, the weakest reading since June 2010, the Commerce Department reported Monday. Personal incomes rose 0.3%. Wall Street economists had forecast a 0.3% rise in incomes and a 0.1% increase in spending.

Stanley Black & Decker Inc.
SWK, +0.28%
appeared to win a contest to acquire Sweden’s Niscayah Group (NISCB), an information-technology solutions company. New Britain, Conn.-based Stanley Black & Decker offered to buy all outstanding common stocks and warrants from around $1.2 billion in cash and assumed debt. Securitas AB (SECUB) made an all-stock offer for Niscayah Group in May, but Stanley Black & Decker said an independent committee of Niscayah’s board recommended that shareholders accept its counterbid.

AstraZeneca
AZN, -0.31%
(AZN) and Bristol-Myers Squibb
BMY, +1.26%
on Sunday reported higher incidences of bladder and breast cancer in a Phase III update on the status of dapagliflozin, their diabetes drug.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.